Showing 1 - 10 of 179,764
Persistent link: https://www.econbiz.de/10010201760
Decisions can be risky or riskless, depending on the outcomes of the choice. Expected Utility Theory describes risky …
Persistent link: https://www.econbiz.de/10013241202
This article builds on the mean-variance criterion and the connection with expected utility maximization to define optimal portfolios. In addition, it extends the results by considering the use of step utility functions, which are non-continuous and able to capture possible preferences...
Persistent link: https://www.econbiz.de/10014240774
This article investigates the representative-agent hypothesis for an infinite population which has to make a social choice from a given finite-dimensional space of alternatives. It is assumed that some class of admissible strictly concave utility functions is exogenously given and that each...
Persistent link: https://www.econbiz.de/10003818194
Eliaz (2004) has established a "meta-theorem" for preference aggregation which implies both Arrow's Theorem (1963) and … preference aggregation is the mutual exclusiveness of Pareto optimality, individual responsiveness (preference reversal) and non …-dictatorship. Recent work on judgment aggregation has obtained important generalizations of both Arrow's Theorem (List and Pettit 2003 …
Persistent link: https://www.econbiz.de/10003818219
theorem and Fishburn's possibility theorem. The proof methodology is based on a model-theoretic approach to aggregation theory … aggregation theory ; variational preferences ; multiple priors preferences ; convex risk measure ; model theory ; first …This paper studies collective decision making with regard to convex risk measures: It addresses the question whether …
Persistent link: https://www.econbiz.de/10008735707
. -- Arrow-type preference aggregation ; judgment aggregation ; model theory ; first-order predicate logic ; filter ; ultrafilter …It is well known that the literature on judgment aggregation inherits the impossibility results from the aggregation of … preferences that it generalises. This is due to the fact that the typical judgment aggregation problem induces an ultrafilter on …
Persistent link: https://www.econbiz.de/10008736325
-type preference aggregation ; Judgment aggregation ; Systematicity ; Model theory ; First-order predicate logic ; Filter ; Ultrafilter …This article proves a very general version of the Kirman-Sondermann [Journal of Economic Theory, 5(2):267-277, 1972 …]. The paper first proposes a unified framework for the analysis of the relation between various aggregation problems and the …
Persistent link: https://www.econbiz.de/10003921381
demand, providing an approximate aggregation theorem. We present a simple method for statistical inference on the minimum …
Persistent link: https://www.econbiz.de/10012852280
Persistent link: https://www.econbiz.de/10013363390